The new program allows AMCs to receive orders in states or areas outside their normal footprint without having to go through the regimented and expensive licensing process.
The correspondent program is also helping local and regional AMCs stay in alignment with strict regulation and compliance laws, the company claims.
In a company press release, an un-named employee of an un-named regional AMC headquartered in Alabama says the new program has helped the company capture business from outside the state, without having to go through the licensure process.
‘Parts of our business got complicated when Illinois adopted new licensing requirements for appraisal management companies and it didn't make sense for us to get licensed,’ the employee says. ‘We decided to use AMC Links as a conduit to fulfill orders in that state.’
AMC Links provides nationwide coverage in a non-exclusive correspondent role. Client AMCs are able to complete appraisal services anywhere in the country, which in turn helps them keep their customers satisfied.
Correspondent AMCs are not required to adhere to any minimum assignment quotas. They are also not required to pay start-up costs in order to enroll in the program.